Luxury Goods Hit Skids

AUTHOR(S)

Martin, Scott

PUB. DATE

September 2008

SOURCE

Red Herring;9/26/2008, p4

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

The article reports on the decline in the 2009 sales outlook of Stifel Nicolaus for Seattle, Washington-based Internet jeweler Blue Nile amid the economic downturn. According to analyst Scott Devitt, they are lowering Blue Nile shares due to the continued difficult environment for luxury retail in the U.S. The shares of Blue Nile declined by 7% to $43.06. The jeweler's sales are 90 percent diamonds and 70 percent engagement-related transactions.

ACCESSION #

36632222

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